$ALCH 🆘 Double Alert: 17.0% Drop & 135.3x Volume on
$ALCH - With a move of this size and a 135.3x volume spike, this event is most likely a combination of forced liquidations and smart money clearing stop orders, NOT a sustainable move to keep shorting blindly.
- I expect the price to consolidate or attempt a bounce between 0.06051 and 0.06456 before any further direction is decided. The market is oversold short-term and could see a relief rally, but the overall trend remains bearish unless 0.06700 and 0.07011 are reclaimed.
- If you’re looking for a trade:
- Wait for a weak bounce/retest to 0.06456 or 0.06700. If price gets rejected here with bearish candle confirmation (like a pin bar, bearish engulfing, or lower high structure on the 5m/15m), a short entry can be considered.
- Example: Short entry at 0.06456–0.06700 with confirmation, target 0.06111 and then 0.06051. Place stop at the swing high of the rejection.
- If price instead bounces aggressively and closes above 0.06700, do not short and look for strength toward 0.07011.
- If you see a long lower wick and a quick reclaim of 0.06456 with bullish engulfing, this could indicate a bear trap and potential scalp long to 0.06700–0.07011, but wait for strong confirmation only!
- If price breaks below 0.06051 with increasing volume again, expect further downside toward 0.05700 and even 0.05450.
📝 This is not investment advice, only an educational report. The current setup is high risk for both shorting and longing; only trade with confirmation and clear risk management. The move is likely smart money-driven, so be patient and don’t chase price after such a volatile dump!
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